BUSINESS
Global IT, business revenues to weather looming recession: IDC
The growth outlook for Asia/Pacific was adjusted downward by roughly 10 basis points each year for the next four years.
The region is forecast to grow at around 5.5 per cent each year. Within the region, the growth rates for both China and India have been lowered.
Amid high inflation & weak rupee, Fin Min review says economic performance 'impressive'
"Indian economic performance in the first half of 2022-23 has been impressive compared to the world. As measured by PMI composite index, the economic activity level was higher for India at 56.7 compared to 51.0 for the World level during April-Sept 2022," said the economic review which was released on Saturday by the Finance Ministry.
Rajasthan mines department reports higher revenue earning than last year
The official said this while attending the monthly review meeting of the mines department through video conference at the Government Secretariat on Friday. He said that in the Amnesty Scheme 2022 of Departmental Dues and Interest Waiver of mines department, Rs 21,85,00,000 has been recovered in 141 cases.
EU leaders agree on roadmap to tackle rising energy prices
The agreement was reached after several hours of discussions over proposals to lower energy bills, which have skyrocketed due to the ongoing war between Russia and Ukraine, reports Xinhua news agency. The summit agreement sets out a "solid roadmap to keep on working on the topic of energy prices", European Commission president Ursula von der Leyen said while addressing a press conference here on Friday.
Musk's antics in Twitter deal make life super tough for banks
According to a report in the Wall Street Journal citing sources, Morgan Stanley, Bank of America and Barclays are finding it hard to hold all $13 billion of debt backing the deal rather than sell it. Banks would likely face losses of around $500 million or more if they tried to sell Twitter's debt at current market prices. A bank generally sells the debt used to create a buyout, and moves on to the next deal.
Oracle modernising Airtel for larger 5G roll-out in India: Top executive
Airtel has launched 5G Plus services in eight cities and users will not need to change the SIM card as the existing Airtel 4G SIM is now 5G-enabled. Customers in Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Siliguri, Nagpur and Varanasi will start enjoying the Airtel 5G Plus services in a phased manner, said the company, as it continues to construct its network and complete the roll out.
We pay all taxes in India, pleased at ITAT order: Google
In its earlier order in 2018, the ITAT had said that Google India's payment to Google Ireland is a royalty and tax should be paid in the country. "We are pleased that the Income Tax Appellate Tribunal through its detailed and reasoned order has confirmed the distinction between royalty and business profits. As such, we pay all of the applicable taxes due and comply with the tax laws in India and in every country where we operate around the world and will continue doing so," a Google spokesperson said in a statement to IANS.
Why India's exports to Europe could see a big jump following Ukraine war
Until February this year, Russia was one of the main trade partners of the European Union. In 2021, Moscow was the EU's fifth largest trade partner, representing 5.8 per cent of the region's total trade in goods with the world. Besides oil and gas, EU's imports from Russia comprised wood, iron and steel, fertiliser, machinery and equipment, motor vehicles, pearl, and precious stones among other items. The EU is already India's second largest trading partner after the US.
'Diwali festive sales likely to witness growth of Rs 60K crore rupees over 2019'
The buying season of Diwali is considered to start from the first Navratri and last till Tulsi Vivah, to be marked on November 5 this year. CAIT Secretary General Praveen Khandelwal claimed that Prime Minister Narendra Modi's campaign of Vocal for Local and Atmnirbhar Bharat has had a huge impact on consumers across the country, and that customers now demand only Indian products in the markets.
Vodafone Idea's board approves issuance of Rs 1,600 crore debentures to ATC Telecom
Vodafone Idea owes an estimated Rs 6,800 crore to mobile tower giant Indus Towers and Rs 2,400 crore to ATC. There was however no word on clearing Indus Towers' dues in the meeting. Indus Towers is said to have asked Vodafone Idea to clear its outstanding dues and pay every month on time for continuity of business post-November 2022. Friday's meeting was held to finalise plans for raising funds.
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